Are Internet infrastructure exits interconnected?
Posted by Ben Kolada on August 10, 2011
Contact: Ben Kolada Providing further proof that it’s a tough time to be on the market, much less come to market, GI Partners has opted to sell its Telx investment rather than battle through an IPO. The company’s sale to ABRY Partners and Berkshire Partners closes the books (at least for now) on a proposed [...]
In Network Solutions’ sale, General Atlantic gets a bit of both exits
Posted by Ben Kolada on August 4, 2011
Contact: Ben Kolada Web.com is acquiring Web hosting and domain name registration vendor Network Solutions in a deal valued at $756m, including the assumption of debt. And we expect that Network Solutions’ owner couldn’t be more relieved. With flat revenue and customer attrition in recent years, Network Solutions’ private equity owner, General Atlantic (GA), wasn’t [...]
Big deals for single PE firms
Posted by Brenon Daly on July 6, 2011
Contact: Brenon Daly In 2010, it was The Carlyle Group. So far in 2011, it’s Providence Equity Partners. These two private equity (PE) firms have the two largest non-club tech leveraged buyouts in each of the past two years. Recall that last October – on successive days, no less – Carlyle erased both CommScope and [...]
Going, going, gone: Go Daddy sells to KKR
Posted by Ben Kolada on July 5, 2011
After canceling a proposed IPO in 2006 and reportedly being on the block since late last year, The Go Daddy Group is now selling an undisclosed stake to private equity firms KKR, Silver Lake Partners and Technology Crossover Ventures. The deal is believed to be among the largest private equity investments in the Internet infrastructure [...]
The June swoon, cont.
Posted by Brenon Daly on July 1, 2011
Contact: Brenon Daly When we looked closer at the dramatic falloff in M&A last month – what we have called the ‘June swoon’ – we saw that the decline not only cut spending by nearly two-thirds, it also slashed the number of richly priced deals. For the 50 largest and most significant transactions of the [...]
Bolting onto the PE platform
Posted by Brenon Daly on June 28, 2011
Contact: Brenon Daly One of the knock-on effects of private equity (PE) spending hitting its highest level in three years in 2010 has been the emergence of bolt-on deals in 2011. Consider the recent M&A activity at Emailvision, an SMB-focused email marketing vendor. The company had been listed on the Euronext, although, candidly, European investors [...]
Flips and flops for PE shops
Posted by Brenon Daly on May 31, 2011
Contact: Brenon Daly There are flips that fly, and flips that flop. Consider the two recent exits by private-equity (PE)-owned companies Skype Technologies and Freescale Semiconductor. One deal basically quadrupled the price of the portfolio company, while the other company is still lingering at a value of less than half its original purchase price. Granted, [...]
Heading in and out at Vector
Posted by Brenon Daly on May 20, 2011
Contact: Brenon Daly Some eight months after the opening bid for RAE Systems was announced, it looks like Vector Capital continues to have the inside track in taking private the maker of gas detection monitors. The San Francisco-based buyout firm earlier this week raised its offer for RAE Systems to $2 per share, or roughly [...]
TI-NatSemi: Large and analog
Posted by Brenon Daly on April 8, 2011
Contact: Brenon Daly The fragmented market for makers of analog integrated circuits looks a whole less scattered now that Texas Instruments has reached for National Semiconductor. Already the largest analog vendor, TI will have some 17% of the market provided its $6.5bn all-cash offer for NatSemi closes later this year. (If it can’t close the [...]
Multiples match on Lawson and Epicor
Posted by Brenon Daly on April 6, 2011
Contact: Brenon Daly If nothing else, we now know the clearing price for ‘vintage’ ERP companies. (Or more accurately said, we know the proposed clearing price.) That’s at least one conclusion we can draw from the highly unusual situation where there are two deals going on simultaneously for two of the industry’s larger players, Epicor [...]
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